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AU-3.7.3

Where an Islamic bank licensee has no:

(a) Approved persons; or
(b) Material risk-takers

whose total annual remuneration (including all benefits) is in excess of BD100,000, Paragraph AU-3.7.1 does not apply. In this instance, an annual notification must be sent to the CBB once it is determined that this situation applies.

Added: July 2014